Prime Minister, Manmohan Singh said the government was addressing many impediments affecting the implementation of infrastructure projects in order to revive the investment climate domestically.
He said this during his address at the CII National Conference and Annual General Meeting, in New Delhi.
He said there are many projects that have been stuck either for want of regulatory clearances or, in the case of power projects because of fuel supply problems.
For a variety of reasons, inter governmental decision-making has slowed down. One reason is a hesitation on the part of officials to take some critical decisions, he remarked.
The Cabinet Committee on Investment (CCI) has also streamlined the processes of granting environment and forest clearances for mega projects, he said.
Clearances for 12 coal mining projects have been fast tracked. These projects would add 37 million tonne to annual coal production. Coal mining projects have now been exempted from public hearing for one time capacity expansion up to 25 percent, provided that public hearing had taken place earlier, he said.
It has also been decided that no fresh Environmental Clearance shall be required for a mining project at the time of renewal of mining lease, if clearance was earlier obtained under the Environmental Impact Assessment Notification of 2006.
The full effect of all these decisions will be felt in the next few months, and they would go far in improving investor sentiment. The government would carry this process forward and do even more in the coming days, he said.
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